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To Celebrate Labor Day, Italian Unions Occupy Milan Stock Exchange

Tyler Durden's picture


Three weeks ago we predicted that should the austerity in Italy be truly enacted, then the Syntagma square strikecam would have to be promptly carted out of Athens, and into Rome, where Michele Caruso Cabrera would have to wear a gas mask in some 5 star hotel high above the Piazza Navona. Well, for now the austerity has been delayed, but not for long: the ECB no longer wants to play ball with Berlusconi and even if it takes a complete government overthrow, massive spending cuts are at most months away. In the meantime however, the labor unions have decided to not wait, and in a first for the soon to be en-Greeced country, have occupied the Milan stock exchange. Since next steps from here are all too clear, prepare for yet another interesting overnight futures session, once electronic trading reopens in 3 hours.

h/t Toni Straka


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Mon, 09/05/2011 - 14:33 | 1635250 Mike2756
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They're holding up a rainbow flag?

Mon, 09/05/2011 - 14:36 | 1635256 Global Hunter
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means something different in Europe, unity or something.

edit: peace in Italy and cooperation throughout most of Europe just googled.  

Mon, 09/05/2011 - 14:46 | 1635326 DoChenRollingBearing
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Pace = Peace.

Yeah right guys.

Mon, 09/05/2011 - 15:01 | 1635392 Global Hunter
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Non Capisci DCRB

Mon, 09/05/2011 - 15:53 | 1635613 DoChenRollingBearing
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I mean that "peace" is not something we should expect from Europe.  Ugly protests coming, etc.  Bad banks and bad sovereign debts.  It is not going to be pretty over there.

And then there's us...

Mon, 09/05/2011 - 17:06 | 1635854 AldousHuxley
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rainbow flag means italians got screwed up their butt with a big pepperoni and they found out that wasn't enough, banksters want them to pay for the pepperoni and wants to do the same for their children.

Mon, 09/05/2011 - 14:37 | 1635273 Sudden Debt
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A greenpeace protestor who bought a Italian road map... got lost... and asked directions to a Italian guy....


Mon, 09/05/2011 - 14:34 | 1635254 Lone Mad Minute...
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I don't have a union card! Guess I need not apply for the free hand out in America soon to be coming down the creek.

Mon, 09/05/2011 - 15:42 | 1635574 Landrew
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Oh, so you are one of the trust fund babies that doesn't work for a living? Pays 15% cap gains tax and feeds off the rest of us.

Mon, 09/05/2011 - 14:34 | 1635255 Sudden Debt
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Italian protests mostly are Italian 20 year old woman running naked on the streets....


or was that a dream?....


Mon, 09/05/2011 - 14:40 | 1635300 Long-John-Silver
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Did they catch you? If they did it was a dream.

Mon, 09/05/2011 - 14:44 | 1635316 Sudden Debt
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yes... I got caught and was put in a cell with 20 naked 20 year old chicks that.... DAMN!!! IT WAS A DREAM AFTER ALL!!....:(


Mon, 09/05/2011 - 14:48 | 1635332 DoChenRollingBearing
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Why don't I have dreams like that?

Mon, 09/05/2011 - 15:10 | 1635453 Hulk
Hulk's picture

You are probably suffering from being over sexed!

Mon, 09/05/2011 - 14:52 | 1635354 caerus
caerus's picture

that's a protest i can really get behind

Mon, 09/05/2011 - 15:48 | 1635599 Use of Weapons
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You guys don't know how the Ukranians protest?

Warning: NSFW & all of these are different protests. Bonus round: Not America, so no eye bleach required.



[note: snark is that these are actually feminists protesting]

Mon, 09/05/2011 - 15:04 | 1635412 Rodent Freikorps
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Maybe she was just protesting your method of introduction.

Mon, 09/05/2011 - 15:18 | 1635492 snowball777
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Could be a senator

Mon, 09/05/2011 - 15:36 | 1635560 ded_moroz
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They are not protesters, they are Berlusconi consultants.

Mon, 09/05/2011 - 20:03 | 1636367 Problem Is
Problem Is's picture

Gaddafi's now unemployed blonde Ukrainian nursing staff...

Mon, 09/05/2011 - 14:37 | 1635271 Maniac Researcher
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And in what ways do either the poster or the readers here actually sympathize with labor unions at all?

Mon, 09/05/2011 - 14:39 | 1635293 Mike2756
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There's a time and place for them, just not now.

Mon, 09/05/2011 - 15:07 | 1635433 Rodent Freikorps
Rodent Freikorps's picture

Collective Bargaining is just a very polite way to say Extortion.

Probably why the Unions and the Mob look so much alike.

Mon, 09/05/2011 - 16:59 | 1635839 New_Meat
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Especially the "Government Unions".

Even the sainted FDR knew better than that.

But JFK signed it in.

- Ned

Mon, 09/05/2011 - 19:47 | 1636323 Calmyourself
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Exec, order 10988 huge mistake

Mon, 09/05/2011 - 17:11 | 1635865 AldousHuxley
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no, mobsters look more like banksters with pinstriped suits.





Mon, 09/05/2011 - 17:39 | 1635943 Rodent Freikorps
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Same thing. After organized crime took over the unions, they looked around and discovered they could make even more money if they branched into banking...and those profits would be legal. Except for the money laundering, but nothing is perfect.

Mon, 09/05/2011 - 15:44 | 1635584 Landrew
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And you sympathize with the wealthy? Most of us here MORON work for a living, FUCK OFF rich asshole!

Mon, 09/05/2011 - 14:38 | 1635282 Long-John-Silver
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I think I'll make a Hero Sandwich with Italian bread and put a 6-pack of La Rossa Beers in a pail of ice.

This is going to be an epic show.

Mon, 09/05/2011 - 14:38 | 1635286 Global Hunter
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I hate MCC even more than I like her chest.  

Mon, 09/05/2011 - 14:40 | 1635297 weinerdog43
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Good for the Italians.  Banksters + lampposts = freedom, bitchz.

Mon, 09/05/2011 - 14:41 | 1635304 UGrev
UGrev's picture

I attended a labor day parade and I couldn't believe what I was watching. I knew I shouldn't have been as surprised as I was, but all I could muster from under breath was "we are so fucked" as I watched union after union pass by wearing shirts with the commie fist on it...

It was that moment that I knew that the only thing that will solve this problem will be an all out fight, if you catch my drift..

Mon, 09/05/2011 - 14:51 | 1635345 DoChenRollingBearing
DoChenRollingBearing's picture

Thanks for the anecdote.

One for you: Mark Steyn has just written a new book: After America, in which he says we are basically fcuked, beyong the point of no return.

Gold = the best medicine to ward off the Commies.

And the means to protect it.

Mon, 09/05/2011 - 15:05 | 1635416 UGrev
UGrev's picture

I'll have to grab the book.
While I agree we are fucked, I don't believe there is "no return". Instead of blues and greys, it will be reds and everyone else..

Mon, 09/05/2011 - 17:20 | 1635893 AldousHuxley
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everyone is in a union even the rich...they are called corporate lobbysts. If you are not because you believe in some sort of meritocracy, then you are the fool getting ripped off.

Illegal immigrants have catholic church +La Reza + Mexican government

Poor blacks have ACORN, NAACP, etc.

blue collar workers have UAW, TEAMSTERS, etc.

government paper pushers have government unions

rich elites have corporate lobbysts, personal bankers in offshore accounts, politicians via political donations, and now supreme court too

Zionists have AIPAC

Doctors have AMA

military have their own government department: veterans affairs



losers in America are college educated middle class workers in private corporations who pay all the taxes for poor and rich but receive the least benefits while competing like wage slaves around the world.


Mon, 09/05/2011 - 17:43 | 1635949 Alvaro de Esteban
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I agree, not to mention that the situation for them is even worst in Europe

Mon, 09/05/2011 - 21:01 | 1636596 UGrev
UGrev's picture

You have one point that I agree with. The REAL workers in America lose out because the other workers are too fucking stupid to do it on their own and they need help. 

I do disagree with your grouping of organizations into unions. You see, unions are organizations but not all organizations are unions in the sense of a workers union. If you want to use the strictest of definitions, then.. sure..I'll go with that; but certainly not in the context of a workers union. 

You may call me the fool for getting ripped off, but is it really anyone elses place to stand up for me when I'm the one who's not paying attention? This is why I despise unions that press for wages. If you want to fight for working conditions.. I'd bend on that as middle ground. However, as soon as you start to negotiate on wages, the unions get to vote themselves wage increases at the detrement of the company and consumers. So fuck them straight up the ass, sideways and upside down on sunday. Fuck em hard baby.. and they can pick the peanuts out of my shit.

Tue, 09/06/2011 - 05:17 | 1637537 Alpha Monkey
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You may call me the fool for getting ripped off, but is it really anyone elses place to stand up for me when I'm the one who's not paying attention?

I'm sorry if i shatter some delusions but, one person, on their own, can't change anything of significance.  People work together to overcome obstacles.  Not all people have the ability and or resources to push back against the oppressive forces aligned against them.  So yes, it is up to other people to stand up WITH other people, including you.

Mon, 09/05/2011 - 20:57 | 1636577 weinerdog43
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Mark (nazi fasist fuck) steyn has the brains of a 3 minute egg.  Not recommended as someone to quote.

Mon, 09/05/2011 - 14:42 | 1635308 disabledvet
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Yeayyyy! Even fancier digs in Milan! I there I was thinking "The Northern League" was a baseball division in Europe. BOY WAS A WRONG! You probably didn't know this but the word "baseball" in Italiano is pronounced "Yanqui" in case you were wondering. It's also pronounced that way in Spanish, English, German and Yiddish. We're working on "Serbo-Croatian"-right now it's pronounced "tennis" for some reason.

Mon, 09/05/2011 - 14:43 | 1635312 hungarianboy
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Bought some popcorn for tomorrow :-) Will bring to my work and see the show live.

Might also get some BUX 1112 Shorts. ( The Hungarian futures )

Mon, 09/05/2011 - 14:45 | 1635318 jules from aus
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with all those old buildings.. what did they spend the money on?

Mon, 09/05/2011 - 15:28 | 1635523 Rodent Freikorps
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Mon, 09/05/2011 - 14:45 | 1635319 gratefultraveller
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What the occupants are pissed off about - apart from having to pay the public debt with spending cuts and their taxes - is the fact that the Berlusconi-leaning CGIL (a major one of several unions in Italy) has accepted an agreement with the entrepreneurs that will make it possible to pass agreements with "the bosses" not with a majority of votes, but with only 17%.

The speaker says that they occupied the entire 4th floor, preventing the traders from working.


Btw, opposite of what a casual observer might think, that monument in front of the building (0:10", raised middle finger towards the stock exchange) has not been brought by the manifestants, it is a statue made of solid marble raised a few years ago.

Mon, 09/05/2011 - 14:58 | 1635382 Moe Howard
Moe Howard's picture

Nice monument. I thought they did something with the hand in the crook of the elbow, at least the Italians in Chicago did.

Mon, 09/05/2011 - 20:58 | 1636584 weinerdog43
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Don't you have a hog trough to clean?

Mon, 09/05/2011 - 15:53 | 1635614 Landrew
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No Dumbass, they are pissed at bailing out yet more fucking banksters!

Mon, 09/05/2011 - 15:02 | 1635400 Hannibal
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Felicitazioni. Conosci il tuo nemico!

Mon, 09/05/2011 - 15:02 | 1635405 vote_libertaria...
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Interesting that the sign on the statue and several of the handheld signs were in English.



Mon, 09/05/2011 - 15:35 | 1635555 Piranhanoia
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America is one of the few countries actively preventing multi lingualism.  The folks in other nations know few of us speak their languages. It causes people to be smarter when they learn other lingo's.  Smart has been out of fashion too long.

Mon, 09/05/2011 - 16:27 | 1635730 Rodent Freikorps
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Or maybe it just contributes to making them nuts.

Nearly 40 percent of Europeans suffer mental illness


Mon, 09/05/2011 - 17:03 | 1635852 New_Meat
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"America is one of the few countries actively preventing multi lingualism."

Au contraire, Meathead!


- Ned

Mon, 09/05/2011 - 16:08 | 1635672 Use of Weapons
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Standard practice in most EU protests nowadays - esp. in the middle countries, who know that syndicated global media uses English as a base language. The Greeks haven't embraced it, largely due to their protests still being perceived by themselves as internal.

Spain / Italy / France / Germany - you'll get a lot of English signs.

If you want a discussion on the networking of EU protest groups, and the infiltration by gov. agents and so on, I think that's a different post. The UK police have had multiple moles, undercover for seven years in one case (other cases were 4 / 5 years): and Italy (for instance) had paramilitary right wing groups / CIA funded groups bombing their own country then pinning it on the Red Brigades in the 70's. Not that the Red Brigades weren't also terrorists. And possibly involved with MOSSAD. And Russia.


Only been 40 years... only been 40 years. The problem is that those in power remember the 70's, and still cling to the old dichotomies of power, whilst the majority of protestors weren't even born then, and hold vastly different belief structures. This split will lead (imo) to some messy situations. Soon [tm]


Mon, 09/05/2011 - 15:03 | 1635410 warchopper
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Finito, bitchez.

Mon, 09/05/2011 - 15:35 | 1635558 ramirez
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Benito, beyotchez.

Mon, 09/05/2011 - 15:08 | 1635440 dcb
dcb's picture

OK, Italy will have the asuterity no matter what (forced on them from the outside. But, the smart rational thing to do is not do  austerity. does anything theink merkel and the ecb are not going to come in with money. quote of the year from me.:

you can always count on the elites of the status quo to spend without limit other people's (taxpayers) money to preserve the status quo

Mon, 09/05/2011 - 15:31 | 1635530 macholatte
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What choice do they have?

Unless I am mistaken, the only country that has really and truely given the banks the finger has been Iceland. All the others have effectively done squat.   Or did I miss something?

Mon, 09/05/2011 - 15:59 | 1635637 Landrew
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Seems like you are one of the very few who understand that GOLDMAN SACKOFSHIT sold their countries banks 1 trillion worth of shit mortgage debt! I was pissed when we bailed the banksters out here. Most of the numbskulls here who think BUFFETT will take care of them hate working people. They should get a clue, the rich hate you and will take what's left.

Mon, 09/05/2011 - 16:30 | 1635739 macholatte
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Useful idiots



In political jargon, the term useful idiot was used to describe Soviet sympathizers in Western countries. The implication is that though the person in question naïvely thinks themselves an ally of the Soviets or other ideologies, they are actually held in contempt by the Soviets, and were being cynically used.


"Useful idiot" is often used as a pejorative term for those who are seen to unwittingly support a malignant cause through their 'naive' attempts to be a force for good.

Mon, 09/05/2011 - 15:21 | 1635501 youngman
youngman's picture

I wonder if the Greek Politicians are trying to figure out a way to get back in the spotlight...the crisis up front gets all the cash...not the guy in the back...oh well...this will be the make or break week I think...Dow down up over $2000...Euro 130 to the dollar...Yen who???

Mon, 09/05/2011 - 15:22 | 1635505 dwdollar
dwdollar's picture

I hope they burn it down.  The exchanges have become nothing but a theater for central bankers to act out their puppet shows.  Burn them all down.

Mon, 09/05/2011 - 15:37 | 1635563 lolmao500
lolmao500's picture

And while the government cuts, the mafia takes over and provides services. Do austerity = the mafia wins. Don't do austerity = you are screwed and ultimately it will benefit the mafia.

Enjoy Italy.

Mon, 09/05/2011 - 15:37 | 1635564 djsmps
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They were encouraged after listening to Obama's Labor Day speech.

Mon, 09/05/2011 - 15:45 | 1635593 Ganja Jane
Ganja Jane's picture

The global revolution is beginning; americans are asleep.

Mon, 09/05/2011 - 15:55 | 1635623 The Mummy
The Mummy's picture


Wake up America! 

Mon, 09/05/2011 - 16:09 | 1635674 Use of Weapons
Use of Weapons's picture

Organising serious protest through Facebook is like using Google mail to traffic drugs.


How dumb can you be?

Tue, 09/06/2011 - 05:02 | 1637523 Alpha Monkey
Alpha Monkey's picture

Stop being afraid and join the fight.

Mon, 09/05/2011 - 16:42 | 1635784 gibons
gibons's picture

not a big deal, it's always halted anyway

Mon, 09/05/2011 - 17:52 | 1635983 saulysw
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Better title for post : Getting hairy in the Italian pits.

Mon, 09/05/2011 - 20:34 | 1636486 MarcusLCrassus
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We should be having our unions do this at the NYSE. 

Mon, 09/05/2011 - 23:25 | 1637021 Buck Johnson
Buck Johnson's picture

I'll tell you one thing, Itally won't go for this austerity even Berllisconi knows that. 

Tue, 09/06/2011 - 11:57 | 1638477 Guinny_Ire
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I understood "Now thatsa ah pizza" but the rest was greek to me. I did count 10 strikers which sounds about right for the amount of people who actually work over there.

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